by Tim Stark 0 comments

First Premier Bank offers a secured credit card that allows you to put in a security deposit to back or secure the credit card. However, when it comes to using a secured credit card, beware of the fine print and payment terms as you can end up or otherwise you may be paying more than you bargain for. If you apply for a First Premier Credit Card, you should read the fees, rates, costs and limitations associated with getting the card.

As of writing, you should note that there is a fee for the issuance of the card where there is a one time account set up fee is $29.00 and a one time program fee of $95.00. Then there is  a monthly service fee at about $84.00 annually ($7.00 per month bill monthly) and an annual fee of $48.00. All in, by the time you finish your first year with the credit card, you would have paid almost $256.

This is not all, the First Premier Credit Bank Credit Card also has other fees like a $3.95 internet access fee for the account. If you increase your credit limit, there is a $25 fee each time. If you close you account and there is outstanding balance of $20.00 or greater, there is a monthly $3 fee.

The fees are a little on the high side as there are numerous fee associated with account opening for First Premier Credit Card. So, before you decide on opening the First Premier credit card, you may want to read through all the disclosure carefully and make sure that you are not taken aback by it. You might also want to check out Orchard Bank Secured Credit Card